DEEPAK M. MEHTA Vs. COMMISSIONER OF CENTRAL EXCISE

JUDGEMENT

(1.) THIS is an application for waiver of pre -deposit for a sum of Rs. 1,33,500/ - the penalty levied under Section 77 of Finance Act (2) of 1994, for failing to file return of service tax within the time prescribed therein.

(2.) SHRI A.R. Krishnan appearing on behalf of the assessee pleaded that the appellant being stock broker left the matter to the accountant who undertook to file the return under the provisions of Finance Act, 1994. It would appear that the accountant who had been entrusted with the task of filing the return had heart -attack and had By pass surgery and thereafter he also died. Shri Krishnan therefore says that by mistake the appellant thought that the provisions of the service tax are similar to the provisions of Income Tax. Therefore he filed the returns belatedly but he argues that the service tax payable to the department has been paid regularly.

(3.) AS against this the ld. DR. Shri Deepak Kumar argues that even assuming that the return has been wrongly taken to be filed as similar to that of Income Tax in this case there has been delay of more than 400 days therefore the plea of the assessee, therefore he says this case is not a bona fide one. The petitioner has also brought before me the judgment of the Tribunal in the case of Ashwani and Associates v. Collector of Customs wherein two member Bench of the Tribunal has granted waiver of pre -deposit of service tax because it was in a nascent stage.